The percentage of Newsletter Writers polled by Investors Intelligence jumped back to 52.9% this week, after a sharp drop the week before (Figure 1). Similar to our short-term tactical view, this is about as neutral as it gets. The same can be said of the bears or those in the correction camp. Clearly, the volatility associated with the Coronavirus and its potential impact on the global economy is creating higher week-to-week moves in sentiment, but sometimes the market just doesn’t give any clear signals from sentiment – and this is one of those times.
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